Nebius Q1 2026 earnings beat, Pennsylvania AI factory announced

Nebius reported first-quarter gross of $399 million, a 684% summation from $50.9 cardinal a twelvemonth earlier, and announced plans for a caller AI mill successful Pennsylvania. Nebius banal roseate 13% successful premarket trading.

The institution said it has secured up to 1.2 gigawatts of powerfulness and onshore for the owned Pennsylvania site. The announcement came alongside first-quarter results that bushed expert expectations of $371.4 million, according to Reuters.

Adjusted EBITDA reached $129.5 cardinal for the quarter, compared with a nonaccomplishment during the aforesaid play past year, Nebius said. On a GAAP basis, the institution posted nett income of $621.2 cardinal from continuing operations, though that fig was driven by a $780.6 cardinal summation from the revaluation of investments successful equity securities alternatively than operating results. The institution reported an adjusted nett nonaccomplishment of $100.3 million.

Chip purchases, caller equipment, and information halfway enlargement pushed quarterly spending to astir $2.5 billion, a fig that topped expert estimates of $2.4 billion, according to Reuters, and dwarfed the $544 cardinal the institution spent successful the aforesaid play past year.

The Pennsylvania tract adds to Nebius's expanding U.S. footprint. On May 12, the institution broke crushed connected a abstracted AI mill field successful Independence, Missouri — its archetypal gigawatt-scale integer infrastructure task successful the U.S. The Missouri installation spans astir 400 acres and is expected to make astir 1,200 operation jobs and 130 imperishable positions, portion generating $650 cardinal successful taxation payments to section schoolhouse districts and taxing jurisdictions implicit 20 years, the institution said.

Like CoreWeave and a increasing tract of specialized unreality vendors, Nebius sells entree to computing powerfulness aimed astatine AI developers, according to Bloomberg. The institution offers GPU-based computing, storage, and managed tools built connected its proprietary unreality architecture.

Nebius secured a $2 cardinal concern from Nvidia arsenic portion of a concern covering AI mill design, inference infrastructure, and aboriginal entree to next-generation Nvidia hardware, with a extremity of deploying much than 5 gigawatts of capableness by the extremity of 2030. Nvidia had antecedently invested successful Nebius arsenic portion of a $700 cardinal backing circular the institution closed successful precocious 2024. Nebius traces its origins to Yandex, Russia's largest net company; the Amsterdam-based holding institution sold Yandex's Russian operations for $5.2 cardinal and adopted the Nebius sanction successful 2024.

Among its caller concern moves, Nebius reached a woody to acquisition inference startup Eigen AI for astir $643 cardinal and entered a declaration with Meta nether which it would proviso arsenic overmuch arsenic $27 cardinal successful computing capableness crossed a five-year term, according to Reuters.